Comments received on discussion drafts on Neutralise the Effects of Hybrid Mismatch Arrangements published OECD

“07/05/2014 – On 19 March 2014, interested parties were invited to comment on the discussion drafts on Neutralise the Effects of Hybrid Mismatch Arrangements related to Action 2 of the BEPS Action Plan. Comments received have now been published.“

“06/05/2014 – Bank secrecy for tax purposes is coming to an end as countries and major financial centres commit to automatic exchange of information between jurisdictions.

The Declaration on Automatic Exchange of Information in Tax Matters was endorsed during the OECD’s annual Ministerial Council Meeting in Paris by all 34 member countries, along with Argentina, Brazil, China, Colombia, Costa Rica, India, Indonesia, Latvia, Lithuania, Malaysia, Saudi Arabia, Singapore and South Africa.”

“Rand Paul (R – Kentucky), in a May 7 letter to United States Senate Majority Leader Harry Reid (D – Nevada), confirmed that he will continue to block the passage of five tax treaties that are presently awaiting a move to the Senate floor.

The passage of tax treaties through Congress has been blocked since 2011, largely through the efforts of Paul, who also introduced a bill last year to repeal swathes of the Foreign Account Tax Compliance Act (FATCA). Paul has cited privacy concerns surrounding the exchange of US taxpayer information within both the tax treaties and under FATCA.”

“The United States Internal Revenue Service (IRS) is looking at a plan to realign compliance operations at its two largest business units, Wage and Investment (W&I) and Small-Business Self Employed (SB/SE).”

DRTP Consulting Inc. solutions go beyond transfer pricing and international tax solutions. This blog post originally appeared at rbrt.ca. The information in this blog post is general information only. Data and information come from sources believed to be reliable but complete accuracy cannot be guaranteed. DRTP Consulting Inc. or the author are not responsible or liable for any error, omission or inaccuracy in such information. Readers should seek advice and counsel from DRTP Consulting Inc. as required.

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